Viridity Energy Congratulates PECO on Smart Grid Advances and ARRA Stimulus Funding

As project partner of the $200 million grant awarded to PECO, Viridity Energy
will support the implementation of smart grid technologies
CONSHOHOCKEN, Pa.--(Business Wire)--
Viridity Energy, a virtual power generation company that transforms large energy
consumers into 24/7 virtual power plants, issued a statement around today`s
visit by U.S. Secretary of Energy Chu to PECO headquarters following Tuesday`s
U.S. Department of Energy (DOE) announcement of smart grid investment grant
awards via the American Recovery and Reinvestment Act (ARRA).

As part of the $200 million grant awarded to PECO for "integrating and
crosscutting across different `smart` components of the smart grid," Viridity
Energy as a project partner will receive $1.179 million to support the
implementation of smart grid technologies through its partnership with Drexel
University. Viridity will couple Siemens' DEMS (decentralized energy management
system) with its VPower system on the Drexel campus for forecasting and
optimization to deliver solutions and services for the management and bidding of
controllable load and customer-owned generation and storage resources into
energy markets, including capacity, day-ahead, real-time and ancillary markets.

Through the stimulus award, PECO will deploy smart meters to its customers,
upgrade communication infrastructure to support a smart meter network, install
seven "intelligent" substations, and accelerate deployment of more reliable and
secure smart grid technologies that will reduce peak energy load and increase
cost savings. As a grant project partner, Viridity Energy will advance its
collaboration with Drexel University and Siemens to demonstrate how dynamic load
optimization can be used to help PECO create virtual energy generation. The
Drexel University-Viridity Energy project will showcase the implementation of a
two-way interface using secure communication channels between the end-users`
resources and the grid through Viridity`s VPower System, which will ultimately
enable PECO customers to manage power costs while bringing greater reliability
to the energy grid.

"Viridity Energy is honored to be a joint recipient of this week`s smart grid
investment grants, and we applaud President Obama, Secretary Chu, the DOE and
Congress for recognizing the importance of smart grid innovations. In addition,
we commend PECO for the strong leadership it has shown in advancing innovative
energy solutions for its customers throughout Pennsylvania, and we are pleased
to support this initiative," said Audrey Zibelman, President and CEO of Viridity
Energy. "Our inclusion in this round of smart grid stimulus funding through PECO
is a major milestone for our company and it underscores the viability our VPower
System in advancing the next generation of smart grid solutions. As part of this
grant funding, we look forward to continuing our partnership with Drexel
University and Siemens to demonstrate the value of integrating both distributed
resources and controllable load onto the electric grid as predictable, reliable
resources."

Viridity`s VPower System provides customers with access to an advanced software
platform that evaluates the customer`s overall energy load and optimizes their
energy usage on a 24/7 basis. The goal is to integrate and aggregate customers`
load, storage and on-site generation resources into virtual generation that can
be used as a reliable resource in the wholesale energy markets and on the grid.
With the VPower System, building owners are able to continuously and
automatically optimize their systems with the assistance of day-ahead schedules
and real time re-optimization. VPower enhances economic value of building
resources by increasing the amount of hours that the owner can achieve savings
and revenues from the power markets.

About Viridity Energy

Viridity Energy provides large energy consumers with powerful tools to increase
energy efficiency and decrease energy costs. Viridity`s unique and flexible
VPower platform enables customers to dynamically shift and balance energy load,
integrate advanced energy technologies and convert existing energy investments
into new revenue streams while achieving sustainability goals and contributing
to the greater good by stabilizing energy price fluctuations. Headquartered in
Conshohocken, Pennsylvania, Viridity was founded in 2008 by former executives of
PJM Interconnection. For more information visit www.viridityenergy.com.

For Viridity Energy
Aaron Lindenbaum, 617-443-9933 x343
alindenbaum@rasky.com

Copyright Business Wire 2009